Jpmorgan Russian Securit... Share Discussion Threads

[loganair] 26/10/2022 16:39

Zara are selling their circa 500 stores in Russia to a Middle East group who already have the franchise in the Middle East.

What I understand is likely to happen is that the franchise stores in the Middle East will order more from Zara, as the Middle Eastern countries have no sanctions against Russia will then transfer this extra merchandise to their newly acquired stores in Russia.

Before the conflict the Russian market was worth some $300mln to Inditex/Zara, therefore in future annual reports I can see Inditex Middle East franchise market will rise substantially.

[1917again] 26/10/2022 12:06

Loganair, we still await the source of the 390,000 troops killed, as surely you weren't lying

[loganair] 26/10/2022 11:48

With allies like the United States, who needs enemies as the U.S. only ever think about themselves and what is good for them which is harming the UK and the rest of Europe as what they are doing is not in the best interests of the UK or the rest of Europe.

[loganair] 26/10/2022 09:34

The MOEX Russia index was 0.7% lower to trade at the 2,110 level on Wednesday, halting a four-session rally and easing from the one-month high hit yesterday. Investors continued to focus on corporate results and dividend announcements for blue-chips traded in Moscow.

Among the heavyweights, investors await dividend announcements for Rosneft and Lukoil.

Miners were among the main losers of the session, with Severstal and MMK dropping more than 1%.

[brwo349] 25/10/2022 20:59

loganair24 Oct '22 - 19:50 - 4133 of 4148
I've been hearing, even from Western sources that since the conflict in the Ukraine began in February that the Ukrainians have lost 390,000 troops killed while Russia have lost 62,000 killed.


Loganair, We are all still waiting for you to post the source of this information.
I really hope and pray you've not been lying about this. Please post a source asap. Thanks.

[loganair] 25/10/2022 19:49

The MOEX Russia index closed 3% higher at 2,130 on Tuesday, extending the sharp rally from recent sessions as hopes that blue-chip companies could announce dividends supported demand for equities across multiple sectors.

Oil giant Rosneft added 4.5% after it announced its board of directors will meet to discuss the amount paid for the first three quarters of the year, while Lukoil added nearly 3% on expectations of payouts.

Gazprom shares also closed among the leaders and added more than 5%. Data compiled by Bloomberg pointed to China having imported record quantities of liquefied natural gas from Russia in September.

[1917again] 25/10/2022 12:39

We still await the source from loganair of the 390,000 troops killed, as surely he wasnt lying

[loganair] 25/10/2022 11:19

A secret fleet of Russian ships could be assembled to help the Kremlin avoid sanctions, Bloomberg reported.

A growing fleet of ships could help Russia circumvent forthcoming sanctions targeting crude oil flows, according to a report from Bloomberg.

The report says that as the EU sanctions loom, which ban insurance on tankers carrying Russian oil, the Kremlin will be able to keep its oil on the market thanks to help from organizations still willing to do business with Moscow. Keeping Russian oil flowing will require a complex network, the report said.

Tanker owners cited by Bloomberg say that recent data examining the sale of vessels and large oil tankers give credence to the notion that such a fleet is being amassed.

[brwo349] 25/10/2022 10:52

Yes I've noticed now that russian pilots are flying their planes into Russian apartment blocks. Very odd behaviour but better that than they blow up Ukrainian apartment blocks.

Russians getting their asses booted out of Bakhmut now. Happy days.

Russians building defence lines all over the place even in Belgorod! They are bricking it. Worried now Ukraine will be invading Russia soon.

[hindsight] 25/10/2022 10:45

Day 243 of the master tactician 3 day genocide war, one day closer 1917 mk2



Ukraine advancing again after pause to let Himar, M270, M777 and AAGMs weaken resistance

Lot videos of Russian aircraft falling from the sky, on front line but also behind it and in Russia now

Russia equipment losses and transfers to Ukraine continue at pace, now 7531, of which: destroyed: 4617, damaged: 166, abandoned: 308, captured: 2440

[1917again] 25/10/2022 10:19

brwo349, we still await the source from loganair of the 390,000 troops, as surely he wasnt lying

[brwo349] 25/10/2022 10:14

Thanks 1917again. That 349,000 killed figure from logainair obviously includes all the civilans, women, children etc murdered by the Russians. Thanks Loganair for highlighting it. Its a horrifying statistic. Horrifying. 349,000. I'm shocked!


Incidentally for clarity in the Donbas war pre Russian invasion the civilian casulaties were;
From 2016 to 2021 there were 365 civilians deaths, and in 2021 there were 25.

That's no doubt mainly from both sides launching rockets into each others territory. There was no genocide as everyone bar a few demented idiots know already. You were probably more likely to get killed in a traffic accident than killed by the enemy.

[loganair] 25/10/2022 09:52

Imagine 1917 is including all the civilians and children that the Ukrainians has murdered by shelling or tortured to death in the Donbass since 2014 and are still continuing to do so, even the Ukrainian government in Kiev said they'll continue to do, even though the Ukrainian government call the innocent women and children they are killing and murdering as fellow Ukrainians.

[1917again] 25/10/2022 09:41

Gas prices continue to collapse, LNG ships queue to offload but storage is full, now back to pre invasion



Will Gasprom survive when prices fully revert, its main market is no more. Russian economy going down toilet and JRS bank account with money in (thats if it has any money in now) will simply disappear

hxxps://www.politico.eu/article/russia-vladimir-putin-wounds-gazprom-ukraine-war-natural-gas-lng-energy/

[1917again] 25/10/2022 08:55

Imagine Loganair is including all the civilians and children that Russia has murdered by shelling or tortured to death in mass graves to get to his 390,000 figure.

[squeaky19] 25/10/2022 08:41

Hi Popit,

Thanks for the very considered response which does make perfect sense to me.

I think my only further thought would be why don't they change the name?

It's not owned by JPM, so they could quietly switch it to "Harry's Trading Company" and five minutes afterwards no-one would be any the wiser.

Then the company could re-domicile?

Surely that would be sufficiently under the radar for JPM?

Again, I question whether the Russians are really going to play "not by the book" for what is essentially a tiny amount of shares owned by a small company currently called JRS.

Anyway, many thanks for the considered reply and I guess we will wait and see :-)

[brwo349] 24/10/2022 22:09

loganair, What western sources? Post a link please. If you can't provide a source then please refrain from ever posting here again. Thanks.

[loganair] 24/10/2022 19:50

I totally agree with Popit when he writes that the dividends paid to JRS will eventually be released to shareholders, however I think the NAV will come in more like £3 to £4 rather than £6 or over.

It seems to me reasonable to say that it will take more than a few months for this to happen.

I've been hearing, even from Western sources that since the conflict in the Ukraine began in February that the Ukrainians have lost 390,000 troops killed while Russia have lost 62,000 killed.

[popit] 24/10/2022 19:38

squeaky19

I asked JRS this question in an email a few months ago but they did not answer it. They answered several of my other questions and so I assume that they do not want to address the issue of change of domicile.

In my opinion there is no reason why JRS could not relocate their domicile. As you say they are a UK plc and there is nothing to stop them. They could move to Hong Kong or Singapore or even Russia. The question is what good would it do them, and what would be the costs?

The assets of the company are not huge and so it is not like HSBC considering a change of domicile from UK to Hong Kong. There would be quite large direct costs for the company, and potentially huge indirect costs for the JPM reputation and brand. What would the media and press in the UK and US say about JPM trying to avoid Russian sanctions by moving the domicile of one of their Investment Trusts? The negative publicity could wipe billions off the JPM share price.

And there is not even any guarantee that Russia would accept such a change of domicile. If JRS moved domicile to Hong Kong for example, Russia may just say that it was a contrived move by a company that was originally from an unfriendly country. So Russia may simply refuse to recognise any change of domicile by JRS.

So JRS may have just decided that a change of domicile is not practical for all of these reasons.

Eventually the 50p annual dividend income for JRS will be released. And eventually the Moex will open up for JRS to trade their holdings as normal. And eventually the JRS share price will return to nearer to the real NAV of over £6.

It may all take a few months, or even a few years, but eventually it will happen.

[squeaky19] 24/10/2022 16:42

sorry to badger, and I'm not suggesting that anyone on here should know the answer, but I feel that your statement above is factually incorrect.

JPM are not the parent company of JRS (JPMORGAN RUSSIAN SECURITIES PLC Company number 04567378)

JRS is a UK public limited company.

JRS has no parent company and no person with significant control according to Companies House.

Therefore if the Russians are playing by the book(?) then it simply appears as a UK domiciled company. It has absolutely nothing to do with either JPM or the US from an ownership perspective.

So can the domicile be changed?

[loganair] 24/10/2022 15:59

S19 - JP Morgan Russian Securities Trust and therefore to the Russians JRS parent company is JP Morgan therefore JP Morgan would have to relocate to a "Friendly" jurisdiction - Russia has all but said as much.